A Podcast is NOT a Business, and can never be a business.
Ever wonder why so many new Podcasts disappear just months after their launch?
It’s because for the most part, aspiring “Podcasters” have it backwards.
You see, podcasts started simply as a marketing medium.
A Podcast would be created as an arm of a business to help sell an existing product or service.
But in the last few years, a number of “Podcasters” have jumped on the bandwagon in an attempt to make it a business in and of itself…with zero experience to speak from, and no plans to sustain it financially.
We have gurus to blame. Internet marketers spouting the myth that you should “Follow your passion, start a Podcast about XYZ topic,” and that by doing so, you’ll magically make a living out of thin air when the Monetization Fairy visits you.
If you’re new here, Let’s get this straight.
The Monetization Fairy isn’t coming.
Not today, not tomorrow, not in 10 years, not ever.
A Podcast by itself cannot be a Business.
At its core, A Podcast is simply a channel in your marketing arsenal to sell existing products and services.
Would you start a Facebook Page and call yourself a “Facebooker,” and claim to run a “Facebooking Business?”
Of course not. It’s ludicrous to attribute your Professional Title to a Marketing Channel you’re engaged in.
But people for some reason like to pretend they’re running a business with the title of “Podcaster.”
Don’t believe me?
Think about it.
The best podcasts in existence attempt to educate a listener and provide as much value as possible so their listeners can make an informed buying decision. Some people would call this manipulation, But as a listener, getting information that will help me in the future is pretty stinking valuable. Heck, maybe they have an altruistic bone in their body and truly want to help you with a particular problem.
Bottom line, their business came first!
They know they will make $XXXX with every podcast they publish, and thus will be able to not only sustain the expenses garnered by operating the podcast, but will profit from every new listener that decides to become a customer.
This was ALL planned up front. The business owner ran the math, and pulled the trigger when he realized running a podcast as part of his marketing strategy was going to be profitable.
What’s sad is I see well-meaning people start a podcast for entirely wrong reasons,
largely because a guru convinced them into believing it was going to be their “way out.”
What’s an example of someone starting a Podcast for the RIGHT reasons?
Read this Story…
“Tom is a former owner of an office cleaning business. After 10 years of running a very successful business, Tom decides to sell the business. In his experience, he always knew that office cleaning businesses struggled with several common issues, and he wanted to help other service businesses overcome the challenges he faced.
Although he’s financially free, Tom becomes an independent business consultant as a second businesses, since he believes he can meaningfully tackle tremendously large problems for these businesses.
Tom read a book like “They Ask, You Answer” and realized that he needed to put his knowledge out into the public in order to reach and impact service business owners at scale. Tom had the choice of starting a blog, video series, or podcast. But since he knew that cleaning business owners would be hopping to different locations in their cargo vans all day, he predicted that a podcast would be the best format to consistently feed valuable information to his customers. Everywhere these business owners would drive, Tom would be there with them as their mentor.
Since Tom provides so much value based on REAL experience, Tom’s audience trusts him enough to purchase his professional services, courses, and attend his speaking events. Since Tom’s information from his Podcast has transformed so many businesses and has directly led to exponentially more sales of his courses and workshops, he can depend on it being a reliable marketing channel for years to come.”
What’s an example of someone starting a Podcast for the WRONG reasons?
Read this story…
“Julie works at a Grocery Store during the day — but in her off hours, she is a Vegan Yogi and is VERY passionate about her Yogi Veganism. Exasperated by her day-job drudgery, she starts listening to Johhny Boy the Guru, who tells her that she should ‘follow her passion’ by starting a Podcast about being a Grocery Store Vegan Yogi. After all, Johnny Boy makes $24k/year podcasting — and you can too by buying his course. Only twelve payments of $49.95!
In an emotional whirlwind, Julie gives in and buys the course. 3 months and $600 later, Julie has zero listeners because she’s not actually delivering value to an audience that give two craps about what Julie has to say about Yogi Veganism.
Defeated, Julie ends the Podcast. Still lost, she seeks out the latest Guru to escape the reality of her situation.”
A Podcast is NOT a business.
It is a Tool.
This is what every potential Podcast Host needs to understand.
I’ve seen so many people lose valuable time and money chasing the dream sold to them.
Although Podcast Rocket is a business predicated on podcasts,
I have a moral obligation to let every person from all four corners of the earth to know the truth:
These cronies make money from well-meaning, desperate people attempting to copy them.
If this article resonates with you, you’re likely a Tom with a plan.
If you’re a Julie, hopefully this article has broken the spell of Johnny Boy the Guru.
Where do we go from here?
Start with the Product or Service.
If starting a Podcast will help you sell your Product or Service, then start.
At the end of the day, truly ask WHY you want to start.
Be honest. Cut out the Guru marketing noise and listen to your own thoughts.
Avoid the trap of starting a Podcast for the wrong reasons.
We only have so much time here on earth.